WHEN IS THE BEST TIME TO SELL YOUR HOUSE?
It’s a common misconception that spring and summer are always the best time to sell a house - although sometimes it is.
However, the best time for one property may not be the best for another property or location so it pays to think about the big picture, then apply it to you, your situation and property. We discuss these below.
If however, you are here because you really do want to sell your home before Christmas 2019, with only 7 weeks to go it pays to get started now.
You will need to allow two weeks from the time you find a real estate agent to being live online. If avoiding open homes/selling in December, it is ideal to be sold by end of November.
That leaves you with a six week window from now so you might want to find out how to sell a house quickly.
SEASONAL PROS AND CONS WHEN SELLING A HOUSE
There have been numerous studies and statistics published on which is the best time to sell a house. February and September for example, can often have more buyer activity. Although a sunny day and blooming garden can give properties a lift, the downside is that with so many people listing at this time, there is increased competition for buyers.
- Summer is considered the best time to sell a holiday home, as holiday makers are out and about on the roads.
- Summer is also a good time to sell a lifestyle block, with drier ground underfoot and brighter greenery.
- For summer sales, take into account holiday season office hours. Law firms wind down in December and may run on skeleton staffing in January. Best to start preparing early to allow time.
- Autumn and winter often have fewer houses for sale, and therefore less competition from other properties.
- Winter sun, home insulation and solar panels can be a real buyer magnet.
- Cold New Zealand winters can motivate people to up-spec to warmer, insulated homes and winter/spring is often the time when they start looking.
Other factors that affect the best time to sell a house are changes to lending policies, interest rates, economic developments in your area and new or amended government policies.
These can all influence the buyer market and therefore, opportunities for you as a home seller.
In truth, there are pros and cons to every season - keep reading to find out more.
GOVERNMENT AND BANK POLICY CHANGES ALSO EFFECT SELLING TIME
The best time to sell a house can be dictated by Government and bank policies, and this is true whether you are an investor, or buying/selling a home. Changes in policy or rates can influence whether you choose to go to market quickly, or hold off for a while.
Here are a few examples:
1. NEW RENTAL PROPERTY INSULATION POLICY
You can attract investor-buyers looking for a better option by ensuring your home is well-insulated before you put it on the market.
As of July 2019, landlords must have their properties insulated to the new Government standard. The fine for failure to comply is $4000 which goes to their tenants.
You can attract investor-buyers looking for a better option by ensuring your home is well insulated before you put it on the market.
2. INTEREST RATE CHANGES
Interest rate reductions can stimulate buyer activity and this is a time when investors will add to their portfolios.
3. LENDING POLICIES
First home buyer activity is affected by loan to value ratios (LVR) and minimum deposit bank policies. A change in these can see your house fit into the first home buyer market, and create considerable interest from these motivated buyers.
TRUE FACTORS BEHIND THE BEST TIME TO SELL A HOUSE
Agent Finder NZ has been tracking and monitoring real estate listings for a decade.
Our research shows that properties that ended up listed for sale a second time around were not selling because it was the ‘wrong’ time of year.
Instead, the lack of sale stemmed from things such as being ill-prepared, choosing an agent with insufficient experience or poor decision-making, although the dominant factor would be basing the sale on an incorrect market estimate.
A real estate appraisal sets the foundation for a property sale and if it's poorly researched, you will be on the back foot from day one possibly without even being aware of it.
Here you can learn important information about real estate appraisals.
SO, IS THERE A BEST TIME TO SELL YOUR HOUSE?
The biggest influence to selling your home isn’t time! Selling in the ‘right’ season is much less important in the long run than a number of other factors, such as:
- your choice of agent
- their performance
- your decisions
- what you do (or don't do) to prepare your home
Due diligence before going to market is essential:
- How much is your house worth to sell now?
- Do you know how to compare real estate appraisals?
- How can you judge the accuracy of a real estate valuation?
- How do you negotiate real estate commission and fees?
- Do you know what a good marketing plan looks like?
- What makes a good real estate agent, for your property type?
Need to sell your house fast? Use our free agent finder service
You don’t always get to choose when to sell up if you're on a job transfer or have purchased a house before you planned to.
It’s possible you need to sell your house fast but are concerned about the time of year and the possibility of having to settle for a lower price. You could be thinking about renting your house so you can wait for that ‘perfect month’ down the track.
We can help you come to a decision on the best solution, as there are issues to consider either way.
We offer a 100% free agent finding service which has been proven to get our clients the best sale price in the optimum time any time of year. This is a safe and effective service tailored to your individual needs.
Need more real estate advice?
Most people aren’t real estate experts. Selling a house can be complex, and things can go pear shaped and lead to disappointment and financial loss.
To avoid problems like these, and to get the best possible property valuation nz-wide, talk to the team at Agent Finder. We can take the stress out and help.
If you need any advice, get in touch now or Free Phone 0800 789 532
Other popular pages:
- Why day one on the market is your most important day of all
- How to find the best real estate agent to sell a house
- Unique tips for selling your home
Contact Us First: email@example.com or call 0800 789 532